CloudCraze
Deal: $20 million
Investors: The round was led by Insight Venture Partners, with participation from Salesforce Ventures.
What they do: CloudCraze, a B2B commerce startup built on the Salesforce platform, allows businesses to efficiently generate online revenue and stay connected with customers. With CloudCraze, companies can create mobile-ready digital storefronts faster and start collecting revenue quickly. The platform allows businesses to see all of their customer data instantly, and share information across channels.
Since launching in 2009, CloudCraze has landed big-name clients like Coca-Cola, AB InBev, GE, L’Oreal and Kellogg’s. The company said it experienced "triple-digit growth" in 2016, and with the funding plans to grow its team and scale the business.
“CloudCraze has pushed the boundaries in the B2B commerce industry to deliver a fast, scalable and robust solution that is flexible enough to allow companies to stay ahead of market and customer demands,” Chris Dalton, CEO of CloudCraze, said in a statement. “As a result, we’ve achieved triple-digit growth as a company in the last year. This funding marks a significant milestone for our company and the marketplace, further enabling growth for our company and B2B commerce on Salesforce.”
Other details: CloudCraze is led by an executive team that previously founded and sold Chicago-based Acquity Group to Accenture for $316 million in 2013; that company is now Accenture Digital.
The $20 million round was led by Insight Venture Partners, a New York-based private equity firm that has raised more than $13 billion and invested in more than 250 companies, like Alibaba, Fanatics, Indiegogo and Twitter, as well as Chicago companies SMS Assist, SpotHero, and Caremerge.
